A section of market women is calling for a relook at the usage of Ghana’s petroleum revenues, making a strong case for the government to allocate a portion of the country’s oil money to traders.
The allocation, they say, should not be given to them as a gift, but as affordable loans to small traders to expand their businesses.
The market women argue that the country’s oil wealth must directly improve the lives of ordinary citizens.
The appeal was made during a stakeholder engagement organised by the Public Interest and Accountability Committee (PIAC) in partnership with the Africa Centre for Energy Policy (ACEP). The outreach formed part of efforts to educate the public on how petroleum revenues are generated, allocated, and spent.
“Let Us Feel the Oil Money”
Speaking on behalf of the traders, Market Queen of the Bohye Market, Beatrice Sowah, enumerated the challenges women face when seeking credit from banks and microfinance institutions.
He lamented over the high interest rates, collateral demands, and lengthy approval processes.
These hurdles, the traders say, make formal loans inaccessible. As a result, businesses stagnate, stock levels remain low, and expansion becomes nearly impossible.
Allocating a portion of petroleum revenues as low-interest, regulated loans, the market queen said, would ease these constraints and empower market women to grow their businesses.
For the market, this is how they, as traders, will feel the benefits of the country’s much-touted oil.
Oil Revenue and Ordinary Citizens
Ghana’s petroleum revenues are typically allocated to infrastructure, debt servicing, and priority development projects. While these investments have long-term benefits, many traders say the impact feels distant.
For market women who wake up before dawn to buy goods and trade through the day, the connection between oil production and daily livelihood is not always visible.
They are therefore calling for a dedicated, well-managed lending scheme funded from petroleum proceeds. Such a scheme will translate national resource wealth into immediate economic opportunity at the grassroots level.
Call for Fairness and Accountability
Importantly, the traders cautioned against politicising such a scheme. The market queen stressed that if petroleum-backed loans are introduced, they must be properly regulated and distributed equitably, not along political lines.
Fair access, they noted, would also encourage repayment discipline and sustainability. The access must be transparent, merit-based, and insulated from partisan influence.
The engagement, held at the Madina Main Lorry Park, brought together traders and market leaders from Madina Main Market and Bohye Market.
It provided a platform not only to learn about petroleum revenue management but also to question how effectively those funds are improving livelihoods.
PIAC’s outreach programme aims to deepen public understanding of oil revenue governance. But the meeting also revealed a growing expectation: citizens want more visible, tangible benefits from the country’s natural resources.
